Keystone Investors PTE Ltd. Sells 97,773 Shares of New Oriental Education & Technology Group Inc. (NYSE:EDU)

Keystone Investors PTE Ltd. cut its stake in New Oriental Education & Technology Group Inc. (NYSE:EDU) by 90.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,949 shares of the company’s stock after selling 97,773 shares during the quarter. Keystone Investors PTE Ltd.’s holdings in New Oriental Education & Technology Group were worth $639,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in New Oriental Education & Technology Group by 14.2% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 1,658 shares of the company’s stock valued at $126,000 after buying an additional 206 shares during the period. Connor Clark & Lunn Investment Management Ltd. grew its stake in New Oriental Education & Technology Group by 1.2% in the fourth quarter. Connor Clark & Lunn Investment Management Ltd. now owns 21,457 shares of the company’s stock worth $1,377,000 after purchasing an additional 247 shares in the last quarter. Blue Trust Inc. increased its holdings in New Oriental Education & Technology Group by 37.8% during the 4th quarter. Blue Trust Inc. now owns 2,827 shares of the company’s stock worth $181,000 after purchasing an additional 775 shares during the period. Corient Private Wealth LLC raised its position in New Oriental Education & Technology Group by 27.4% during the 4th quarter. Corient Private Wealth LLC now owns 3,685 shares of the company’s stock valued at $237,000 after purchasing an additional 792 shares in the last quarter. Finally, SBI Securities Co. Ltd. bought a new position in shares of New Oriental Education & Technology Group during the 4th quarter worth $51,000.

New Oriental Education & Technology Group Price Performance

Shares of NYSE EDU opened at $47.49 on Tuesday. The firm’s 50 day simple moving average is $50.57 and its 200-day simple moving average is $59.10. New Oriental Education & Technology Group Inc. has a 12 month low of $44.46 and a 12 month high of $92.50. The stock has a market capitalization of $8.06 billion, a price-to-earnings ratio of 20.21 and a beta of 0.47.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on EDU shares. StockNews.com downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research note on Thursday, March 13th. China Renaissance downgraded New Oriental Education & Technology Group from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup downgraded shares of New Oriental Education & Technology Group from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $83.00 to $50.00 in a report on Friday, January 24th. Morgan Stanley lowered shares of New Oriental Education & Technology Group from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $83.00 to $52.00 in a research report on Wednesday, January 22nd. Finally, Macquarie downgraded shares of New Oriental Education & Technology Group from an “outperform” rating to an “underperform” rating and cut their price objective for the stock from $79.00 to $44.00 in a research report on Wednesday, January 22nd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $61.20.

About New Oriental Education & Technology Group

New Oriental Education & Technology Group, Inc is a holding company, which engages in the provision of private educational services. It operates through the following segments: Educational Services and Test Preparation Courses, Private Label Products and Livestreaming E-Commerce, Overseas Study Consulting Services, and Educational Materials and Distribution.